Insurance - LIC/GIC

Indian insurance sector has remained successful even in the toughest of the times, thanks to the Insurance Regulatory and Development Authority (IRDA)'s tough and conservative apparatus. Till recent years Insurance was under Government Undertaking, however after the opening of Indian Market, many of the multinational Insurance companies have come up with more job opportunities in the insurance sector in India. Today Insurance Enterprises namely LIC (Life Insurance Corporation) and GIC (General Insurance Corporation) have secured the top place in recruiting the candidates for the placements by giving secured job to its Competitive Exams.

In these two major Insurance Companies of Indian Government i.e. Life Insurance and General Insurance, candidates for the following positions are recruited every year basis:

Officer’s Position

Agent Position

There are separate examinations conducted for LIC and GIC for the above mentioned posts.

Insurance - LIC/GIC Selection Procedure

Following are the important Insurance Competitive Exams to enter into the Indian Government Insurance Career:

LIC Officers' Exam

LIC Development Officers' Exam

GIC Officers' Exam

GIC Assistants Exam

LIC:-

LIFE INSURANCE CORPORATION OF INDIA (LIC) was established on September 1st 1956 under an Act passed by the Parliament as a wholly owned Corporation of Government of India with a capital of Rs. 5 Crores The Government of India in 1956 brought together over 240 private life insurers & provident societies under one nationalized monopoly corp i.e., LIC.

Eligibility Criteria:- For Officer’s Position the candidate should have a Bachelor's/Master's Degree from a recognized Indian or Foreign University with a minimum of 50% marks (relaxable in the case of SC /ST candidates to 40%) in aggregate in either of the degrees.

Candidates for appearing LIC Officers Exam must be between 21 to 28 years on the 1st April of the year of examination. Upper age limit is relaxable for Scheduled Castes, Scheduled Tribes, confirmed LIC employees, etc.

For Development Officer’s Position The applicants should hold a Bachelor's Degree in Arts/Science/Commerce/Agriculture/Law, of an Indian or Foreign University, or possess an equivalent qualification.

He/she should have completed the age of 21 years on the 1st July of the year of examination.

Paper Pattern:- The selection procedure for Officer’s/ Development Officer’s post takes place in two stages, namely:-

A) Written Test

B) Personal Interview

Stage A: Written Test

Syllabus for the written test for is as follows:

1. Test of Reasoning
This test would include questions of both verbal and non-verbal type. The test may include questions on analogies, similarities, differences, space visualization, problem-solving, analysis, judgment, decision-making, visual memory, discrimination, observation, relationship concepts, arithmetical reasoning, verbal and figure classification, arithmetical number series, etc The test will also include questions designed to test the candidate's abilities to deal with abstract ideas and symbols and their relationships, arithmetical computation and other analytical functions.
2. Test of English Language
This is a test to see how well you know English. English language ability would be tested through questions on grammar, vocabulary, sentence completion, synonyms, antonyms, comprehension of a passage, etc.
3. Test of Numerical Ability
Questions will be designed to test the ability of arithmetical computation of whole numbers, decimals and fractions and relationship between numbers. The questions would be based on arithmetical concepts and relationship between numbers and not on complicated arithmetical computations
4. Test of General Knowledge
The questions in this section will be set to test the candidate's general awareness about the events happening around him.

Note: - The paper is generally bilingual (English and Hindi) except for English section. For LIC officer’s post a separate descriptive paper is to be given, which includes questions as essay writing, comprehension, précis writing, etc.

Stage B: Personal Interview: - The candidates who successfully pass the written examination would be called for the Interview to finalize the selection procedure.

GIC:- GENERAL INSURANCE CORPORATION (GIC).The GIC was formed as a Government Company under Sec 9 of the General Insurance Business (Nationalization) Act, 1972. It was registered as a private company under the Companies Act, 1956.

Eligibility Criteria: - For Officer’s Position the candidate should be a Graduate/ postgraduate with 50% marks (relaxable in the case of Scheduled Castes/Tribes at 40%).

He/she should be 21-30 years on 1st October of the year previous to the year of examination (relaxable in the case of SC/ST/OBC, ex-servicemen and serving confirmed employees of G.I.C).

For Assistant’s Position the candidate should have cleared Higher Secondary (Senior Secondary) with 60% marks or a Graduate of a recognized University.

He/she should be 18 to 28 years on the first June of the year of examination.

Note: - The paper is generally bilingual (English and Hindi) except for English section. For GIC Assistant officer’s post a separate descriptive paper is to be given, which includes questions as essay writing, comprehension, précis writing, etc.